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DSV Panalpina buys Agility unit for $4.1 billion to become No. 3 freight forwarder

3 Min Read
COPENHAGEN (Reuters) - DSV Panalpina said on Tuesday it had agreed to acquire the logistics division of Kuwait’s Agility Public Warehousing Co in an all-share deal worth $4.1 billion, creating the world’s third largest freight forwarding company.
FILE PHOTO: DSV Panalpina CEO Jens Bjoern Andersen is seen during a news conference in Basel, Switzerland, April 1, 2019. REUTERS/Arnd Wiegmann/File Photo
The deal is one of several in recent years as global logistics companies are looking to build scale in a fragmented freight transport market.
It will see Copenhagen-based DSV overtake DB Schenker, putting it behind only DHL Logistics and Kuehne & Nagel as measured by revenue and freight volumes. ....

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UPS soars on record results, stock leaps

By Reuters Staff
2 Min Read
(Reuters) -United Parcel Service Inc on Tuesday posted record quarterly profit and revenue on pandemic-fueled demand for doorstep deliveries and air transportation.
Shares in the world’s biggest package delivery firm soared 12.1% to $197.07 in early trading, after operating profit swelled during the first quarter, when severe winter weather briefly disrupted operations.
“The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy
on the stock – was very strong,” Bernstein analyst David Vernon wrote in a client note.
Business is booming at UPS and rivals like FedEx Corp, DHL and Amazon.com Inc since the pandemic shifted purchases of everything from food to furniture online. ....

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Davao City to test PUV, courier drivers

SunStar
Photo by Mark Perandos
April 25, 2021
THE Davao City government is set to conduct free swab testing to all drivers of public transportation and delivery services starting Monday, April 26, 2021.
Mayor Sara Duterte-Carpio issued Executive Order (EO) No. 22, An Order Providing For Heightened Surveillance and Response of Covid-19 Cases in Public Ground Transport and Delivery Service in Davao City.
According to Section 1 of EO 22, the city will be providing free Covid-19 swab testing for all drivers and delivery service such as taxi drivers, van drivers, airconditioned and non-airconditioned jeepney drivers, habal-habal or motorcycle drivers, tricycle drivers, bus drivers, other drivers of public ground transport vehicles, and motorcycle drivers of food and online item delivery services (i.e. Grab, Foodpanda, Shopee, Lazada, etc.) ....

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Russian e-commerce venture SberMarket's transaction volumes boom in first quarter

By Reuters Staff
2 Min Read
MOSCOW, April 21 (Reuters) - The e-commerce arm of Russia’s largest lender Sberbank had a surge in transaction volumes in the first quarter of 2021, the company said on Wednesday, benefiting from the bank’s diversification into new businesses, which include ride-hailing and cloud computing.
Sberbank became the majority shareholder in SberMarket in January after buying a stake from its joint venture with internet company Mail.Ru.
Sberbank told Reuters earlier this month it plans to expand its logistic business across Russia and tap into what it calls the broader ecosystems of its financial services customers as banking margins shrink. ....

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Japan's Topix ends lower as COVID-19 fears outweigh gains in chip-related shares

By Reuters Staff
2 Min Read
TOKYO, April 19 (Reuters) - Japan’s Topix changed course to close lower on Monday, while the Nikkei ended little changed, as concerns around a resurgence of COVID-19 outweighed gains from chip-related shares.
The broader Topix slipped 0.22% to close at 1,956.56, while the Nikkei 225 Index trimmed gains to end 0.01% higher at 29,685.37.
Japan and the United States agreed last week to cooperate on investment in semiconductor supply chains in response to a global shortage of chips, which is seen as positive for Japanese chemical and industrial companies, analysts said.
But, risks related to the rapid spread of COVID-19 remain. The governor of Tokyo is considering another state of emergency in response to a steady increase in virus cases. And, analysts said, Japan’s slow vaccinations’ pace is also a negative factor. ....

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